Why Micron Technology (MU) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Micron Technology  (MU) are soaring 7.41% to $34.05 in pre-market trading after the chip-maker reported earnings of 82 cents per share for the fourth quarter, topping the 81 cents per share Thomson Reuters analysts estimated.

Revenue rose 48.9% from a year ago to $4.23 billion, beating Thomson Reuters analysts' estimates of $4.15 billion for the quarter.

The company did not offer guidance, but the consensus estimates for the first quarter call for earnings of 85 cents per share on revenues of $4.36 billion.

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Watch the video below for a closer look at Micron's latest quarterly results:

Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-.

MU Chart MU data by YCharts

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